SHIVAM ENTERPRISES HARBILAS,HOSHIARPUR vs. INCOME TAX OFICER WARD-4, HOSHIARPUR

ITA 194/ASR/2018Status: DisposedITAT Amritsar21 February 2019AY 2011-125 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that the reopening of assessment was invalid as it was based on a 'change of opinion' and lacked proper reasons. The AO's recorded reasons were inconsistent and did not demonstrate a valid basis for reassessment under Section 147.

What were the facts?

The assessee claimed depreciation at 40% on trucks and tempos used for transportation business, which was allowed in the original assessment. The Assessing Officer (AO) later sought to reopen the assessment, believing the vehicles were not used for hire and thus eligible for a lower depreciation rate.

What were the issues?

Whether the reopening of assessment under Section 147 was valid when based on a change of opinion by the AO, and whether the reasons recorded were sufficient to justify reassessment.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 147,Section 148

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Cases cited in this judgment(3)Show list

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Income Tax Appellate Tribunal, AMRITSAR BENCH, AMRITSAR (SMC

Before: SH. SANJAY ARORA

Hearing: 19.02.2019Pronounced: 21.02.2019

Per Sanjay Arora, AM: This is an Appeal by the Assessee directed against the Order by the Commissioner of Income Tax (Appeals)-1, Jalandhar ('CIT(A)' for short) dated 03.01.2018, partly allowing the assessee’s appeal contesting its assessment u/s. 143(3) r/w s. 147 of the Income Tax Act, 1961 ('the Act' hereinafter) dated 21.12.2016 for the Assessment Year (AY) 2011-12. 2. The principal issue arising in the instant appeal is the validity reopening of assessment vide notice u/s. 148 dated 08.02.2016. The assessee assails the same on the basis of it being a ‘change of opinion’. Depreciation on trucks and tempos had been allowed in the original assessment u/s. 143(3) dated 25.02.2014 at the rate of 40% (on WDV), i.e., as claimed, on being satis

The order continues below.

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